Penserra Capital Management LLC Sells 16,719 Shares of Planet Fitness, Inc. $PLNT

Penserra Capital Management LLC reduced its stake in shares of Planet Fitness, Inc. (NYSE:PLNT) by 97.4% in the second quarter, Holdings Channel reports. The fund owned 455 shares of the company’s stock after selling 16,719 shares during the quarter. Penserra Capital Management LLC’s holdings in Planet Fitness were worth $49,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of PLNT. Invesco Ltd. grew its holdings in Planet Fitness by 358.0% during the first quarter. Invesco Ltd. now owns 2,211,139 shares of the company’s stock valued at $213,618,000 after purchasing an additional 1,728,407 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Planet Fitness by 62.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,289,606 shares of the company’s stock worth $317,810,000 after acquiring an additional 1,268,262 shares during the period. Ninety One UK Ltd increased its holdings in Planet Fitness by 35.7% in the 2nd quarter. Ninety One UK Ltd now owns 2,883,906 shares of the company’s stock worth $314,490,000 after acquiring an additional 759,227 shares during the last quarter. Junto Capital Management LP bought a new stake in Planet Fitness in the 1st quarter valued at about $52,580,000. Finally, T. Rowe Price Investment Management Inc. boosted its holdings in Planet Fitness by 6.3% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 8,407,128 shares of the company’s stock worth $812,213,000 after buying an additional 496,047 shares during the period. Institutional investors own 95.53% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on PLNT. Raymond James Financial restated a “strong-buy” rating on shares of Planet Fitness in a research report on Thursday, August 7th. Weiss Ratings cut Planet Fitness from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, November 7th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Planet Fitness in a report on Wednesday, September 24th. UBS Group initiated coverage on Planet Fitness in a research report on Friday, October 17th. They set a “buy” rating and a $125.00 price target for the company. Finally, Royal Bank Of Canada upped their price objective on shares of Planet Fitness from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Planet Fitness has an average rating of “Moderate Buy” and an average price target of $115.77.

Planet Fitness Price Performance

Shares of NYSE PLNT opened at $107.19 on Friday. The stock has a market capitalization of $9.03 billion, a P/E ratio of 43.75, a PEG ratio of 2.32 and a beta of 1.37. Planet Fitness, Inc. has a one year low of $87.72 and a one year high of $114.47. The firm’s 50 day simple moving average is $98.88 and its two-hundred day simple moving average is $102.98.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.08. The company had revenue of $330.35 million during the quarter, compared to analysts’ expectations of $323.95 million. Planet Fitness had a net margin of 15.97% and a negative return on equity of 126.58%. The firm’s revenue was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.64 EPS. Planet Fitness has set its FY 2025 guidance at 3.000-3.030 EPS. As a group, equities analysts expect that Planet Fitness, Inc. will post 2.51 earnings per share for the current fiscal year.

About Planet Fitness

Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. The company operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The company is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.